ICICI Bank faces GST demand of ₹2.29 billion in Maharashtra tax notice

IBN•2026-10-01

ICICI Bank received a Maharashtra GST show-cause notice dated Sept. 30, 2026, seeking ₹2.29 billion plus interest and penalties over services for customers maintaining specified minimum account balances.

1. Tax notice

The notice was issued under Section 73 of the Maharashtra GST Act, 2017. ICICI Bank plans to file its reply within the prescribed timeline.

2. Related litigation

Similar matters remain under litigation, including a writ petition concerning earlier tax orders and notices.

Sources

ICICI Bank faces GST demand of ₹2.29 billion in Maharashtra tax notice

Docs

ICICI Bank faces GST demand of ₹2.29 billion in Maharashtra tax notice

1. Tax notice

2. Related litigation

Related News

Nasdaq pauses trading for volatility at 9:33 a.m.

US manufacturing steady in September, input prices increase

US tells France and Germany to release diesel stocks or face US export ban, sources say

Sources

ICICI Bank faces GST demand of ₹2.29 billion in Maharashtra tax notice

Hawkins expands Dallas-Fort Worth footprint with Eagle Labs acquisition

Conduent completes sale of public transit business to Modaxo for $164 million